To say that the first half of the year was painful for investors would be a big understatement. They suffered large losses on their holdings of stocks, corporate bonds, emerging markets, crypto and other assets; and, for most of the last six months, they received no protection from government bonds whose traditional risk mitigation attributes gave way to big losses, too.
Indeed, other than oil and some other commodities, it was a dismal picture all around in public markets. It is only a matter of time until valuations in private equity follow suit.
This is an environment in which it is hard to argue for silver linings, especially when so many analysts are warning that additional losses may be ahead in both public and private markets. Yet three are already evident.
